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J.P. Morgan Reserve Card

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A J.P. Morgan Reserve Card with EMV

The J.P. Morgan Reserve Card, formerly known as the Palladium Card, is an invitation-only Visa credit card issued by JPMorgan Chase. It was known as the J.P. Morgan Palladium Card until it was formally re-branded to its current name.[1] The laser engraved card is minted out of brass and plated with palladium.[2] This card is in a category of ultra exclusive, invitation-only credit and charge cards, such as the American Express Centurion Card (a.k.a. "Amex Black Card").[2] It is one of the most exclusive credit cards in the world, and reserved for the most important private clients of JPMorgan Chase.

History

JPMorgan Chase introduced the Palladium Card in 2009, to cater to their ultra-high-net-worth clients of the firm. Bloomberg described the Palladium Card as the "card for the 1% of the 1%".[3] JPMorgan Chase clients who are invited to carry this card must have a minimum of US$10 million in assets under management with J.P. Morgan Private Bank, and have a median of US$100 million with the bank. There are only 5,000 Palladium card holders worldwide.

The Palladium Card was one of the first U.S. credit cards to adopt EMV smart chip technology. With its 23-karat gold construction and palladium plating, the card weighs 1 ounce or 28.35 grams, five times the weight of a conventional plastic credit card and twice the weight of the titanium constructed American Express Centurion Card. The value of the materials used to construct the card is $1,000.[2]

In September 2016, the J.P. Morgan Palladium Card was re-branded the J.P. Morgan Reserve Card. The Reserve card is physically identical to its predecessor, but now includes a suite of improved benefits and privileges, including complimentary airport lounge memberships (such as United Club and Priority Pass Select), and it has been branded Visa Infinite.[1]

References

  1. ^ a b Ellis, Nick (August 25, 2016). "Have $10 Million with Chase? You Can Get the J.P. Morgan Reserve Card". The Points Guy.
  2. ^ a b c White, Martha C. (2 March 2012). "You're Probably Not Rich Enough For This Credit Card". TIME. Retrieved 10 February 2015.
  3. ^ Cohan, William D. (29 February 2012). "The Credit Card for the 1 Percent of the 1 Percent: The Ticker". Bloomberg News. Archived from the original on 14 February 2015. Retrieved 10 February 2015.

See also

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